Will the OPEC+ Meeting Strengthen USOIL Again?
What’s happening in the markets? Exness has put together some of the most important news and events that may affect your trades in the near term.
- The Fed officials hinted that they will likely hold the interest rate till the end of the year.
- Meanwhile, the market is waiting for the OPEC+ meeting and the US inventories before deciding on the next step.
- Aside from that, the market will witness Non-Farm Payrolls SEP and Unemployment Rate SEP, which can give the potential short-term economic activities.
- From a technical perspective, USOIL plunged significantly after failing to close above 92.00 USD per barrel.
- If USOIL immediately plunges, the price can retest its next support area at around 84.00 – 86.00 USD per barrel.
- On the contrary, USOIL may retrace to around 90.00 USD per barrel if the price recovers from the current level.